Industrial Bank of Korea Launches Task Force for Korean New Deal Implementation

On the 17th, San-eun Headquarters Holds Untact-style Second Half Management Strategy Workshop

[Asia Economy Reporter Jo Gang-wook] Korea Development Bank (KDB) is set to fully activate a task force (TF) to promote the government's recently announced 'Korean New Deal Comprehensive Plan.'

KDB announced on the 19th that it held a 2020 second half management strategy workshop at its Yeouido headquarters IR Center on the 17th to discuss this matter.

Following the government's 'Korean New Deal Comprehensive Plan' announced on the 14th, KDB launched the 'Korean New Deal Promotion TF' on the 16th, led by the head of the Policy Planning Division as team leader, and composed of 16 department heads including the Planning Coordination Department, PF Office, Scale-up Finance Office, and Indirect Investment Finance Office. A kickoff meeting was held.

Through the TF, KDB will conduct research on the government's 'Digital New Deal' and 'Green New Deal' projects, as well as explore financial support measures such as direct and indirect investments linked to the materials, parts, and equipment industries, and capital attraction plans to involve the market's abundant liquidity in the New Deal.

Additionally, KDB plans to establish the scope of roles and identify implementation tasks centered on its traditional strengths such as venture investment and project finance.

In particular, this TF will organize and operate related departments into small agile execution teams as needed for rapid and efficient response.

KDB stated that it will swiftly promote effective detailed implementation plans, including the launch of dedicated new financial products, through continuous consultations with the Financial Services Commission.

At the workshop, KDB reviewed first-half performance including fund supply and policy finance program execution, and selected key tasks for the second half such as the rapid advancement of financial market stabilization programs to overcome the COVID-19 crisis, strengthening industrial and corporate competitiveness, and accelerating innovative growth.

In addition, in-depth discussions were held on the bank's role in preparing for the post-COVID-19 era.

Notably, to prevent COVID-19 infection, the workshop minimized on-site attendance to about 30 executives and division heads, while employees below department head level participated via online live streaming through the 'Media Center' in an untact format. For the first time, interactive communication was attempted through a real-time 'open chat room' where employees could express opinions and ask questions, receiving great response.

A KDB official emphasized, "As a leading policy finance institution, we will proactively provide direct and indirect financial support for digital, SOC, and green industries, contributing to the government's 'economic structure advancement' and 'sustainable job creation.'"

This content was produced with the assistance of AI translation services.